The collaboration focuses on the creation of software applications and joint service offerings including the development of industrial digital twins that will drive efficiency throughout the entire plant lifecycle. In addition, the companies will further develop specific offerings for the oil and gas sector based on Siemens' Comos engineering platform. These solutions will help customers to reduce engineering and operational cost and enable improved decision making.

The agreement builds on a long-standing, successful relationship between both companies by combining individual strengths and promoting joint offerings.

Aker Solutions will bring in its domain expertise and sector-specific digital offerings in field development, asset performance and integrity, while Siemens will provide a wide range of digital offerings for the process industries - ranging from automation equipment to software applications for engineering and simulation.

"We are excited to strengthen our existing relationship with Siemens", said Dean Watson, Aker Solutions' chief operating officer. "By working together to develop and deploy advanced digital solutions, we will allow our customers to liberate data and solve important engineering challenges. Within the energy industry - and beyond - digital twin solutions are providing increased insight which in turn enables better performance, maintenance and investment decisions. We look forward to working with a trusted partner like Siemens to further enhance these offerings".

Eckard Eberle, CEO Process Automation Business Unit, at Siemens added "With this collaboration we are combining Aker Solutions' strong knowledge in upstream oil and gas projects as well as its domain-specific digitalization offerings with Siemens' extensive knowledge in the field of electrification, automation and digitalization. Customers across a broad range of industries, including the oil and gas industry will benefit from an enhanced joint offering that will increase their productivity, efficiency and flexibility."